Q9 Raises $14M Angel Round Financial Investment, Perfect World to Host $250K CS: GO Asia League
Though the COVID-19 pandemic is a regrettable beginning for 2020, the esports industry in China saw its first revealed esports capital raised, as well as the first health management center for esports players in the last week.
China’s leading League of Legends competition, League of Legends Pro League (LPL), has started its summer season split. Another esports title, Counter-Strike: Global Offensive (CS: GO), has actually resumed its professional competitors in the area, helped with by the game’s Chinese distributor Perfect World.
Amongst the top stories: Chinese esports organization Q9 raised $14M USD in an angel round investment; Perfect World revealed strategies to host the $250K CS: GO competition, Perfect World Aisa League (BUDDY); Honor of Kings team YTG Gaming chose to leave King Pro League, auction off its franchising slot and gamer agreements with an opening quote price of $8.6 M; FunPlus Phoenix renewed its collaboration handle social media platform Bixin; and Huya signed an exclusive streaming offer with Invictus Video gaming’s Dota 2 division.
Chinese esports company Q9 Esports Club (Q9) announced that the company has raised a ￥ 100M RMB ($14M USD) angel financial investment round led by Chinese angel financiers Lei Wen and Chao Liu.
According to the announcement, the two financiers say that they will not interfere with Q9’s business. Q9 will develop influencer incubators in the Chinese cities of Chengdu, Shenzhen, and Shandong to establish live streamers. In addition, the business will increase its investments in esports, including developing more younger players, and improve its esports training system.
Q9 was established in 2015, and runs 2 significant businesses: live streaming and esports. The company’s esports department contends in Peacekeeper Elite, QQ Speed, Call of Duty: Mobile, and CrossFire.
In 2019, Chinese video game publisher Tencent altered the CrossFire Expert League (CFPL) and CrossFire Mobile League (CFML) into franchising designs. Q9 is among ten esports teams in the league, alongside Chinese esports companies Edward Video gaming (EDG), Team WE, and Super Vallant, amongst others.
Chinese game publisher and Valve’s unique Chinese circulation partner Perfect World announced that it will host a tournament series called the Perfect World Asia League (FRIEND) for all CS: GO groups in Asia and Oceania.
The FRIEND tournament series consists of BUDDY Summertime Split Asia Region, FRIEND Fall Split Asia Area, and Oceania Region. Both the PAL Summer Season Split and Fall Split in the Asia area include $100K reward cash, while the BUDDY Fall Split in Oceania region features $50K.
The upcoming FRIEND Summertime Split Aisa area will begin on June 24, and end on July 19. The top 8 teams will get prize money, be awarded Regional Major Rankings (RMR) points, and possibly be gotten approved for the $2M ESL One Rio Major in November.
On June 4, The Shanghai United Assets and Equality Exchange exposed that Chinese esports organization YTG Video gaming (YTG) agreed to sell its King Pro League (KPL) franchising slot, all gamers’ agreements, and social networks accounts.
The bidding rate opened at ￥ 61M RMB ($8.6 M), and purchasers likewise need to validate certifications through Tencent.
In fact, looking at the regards to this trade, this rate ($8.6 M) is lower than a previous purchase by another Chinese group. In January, prior to the COVID-19 pandemic, Chinese esports organization LGD Gaming signed a collaboration handle Chinese live streaming agency BGoose, and collectively developed an Honor of Kings team in KPL called LGDAE. Jie Pan, the CEO of LGD Gaming told The Esports Observer that the two companies invested ￥ 80M ($11.6 M) to construct the group, including the KPL franchising slot purchase.
The reason behind YTG’s offering its interests in KPL has actually not been divulged. Sources close to the KPl and the group told The Esports Observer that the COVID-19 pandemic and unsatisfactory group efficiency were likely contributing factors in the choice to offer.